In 2024, the Intergovernmental Fintech Working Group (IFWG), a collaboration of South African regulators, plans to expand its crypto asset framework to specifically include stablecoins.

This consortium, previously noted for its comprehensive position paper on crypto assets in 2021, aims to provide a more detailed classification for stablecoins, recognising them as a unique subset of cryptocurrencies.

This initiative reflects the group's ongoing commitment to understanding and integrating digital assets within South Africa's financial landscape, taking into account the burgeoning relevance of tokenisation in domestic financial markets.

By doing so, the IFWG demonstrates its proactive stance in adapting to the evolving digital asset ecosystem and ensuring regulatory clarity and security for investors and market participants.